It’s official. Prime Day, 2024, will take place on July 16th & 17th..
As one of the most profitable days in the eCommerce calendar, setting up an Amazon Prime Day pricing strategy ahead of time is essential to capitalize on that potential.
The overall key to making the most of Prime Day is scalability. The enemy of scalability is manual tasks. To solve for that, Repricer makes smart decisions for sellers, taking the cognitive load off and optimizing products for profitability—24/7.
Below we’ve outlined 5 Repricer features to focus on that can take your selling efficiency to the next level.
Net Margin Repricer
The worst thing you can do on Prime Day is sell yourself short, especially in terms of profit. With Net Margin pricing on Repricer, you can control the minimum and maximum prices your inventory can sell for.
Best of all, there’s no math needed on your end. Instead of wrapping your head around formulae, you can lean on automated calculations to ensure you’re selling at the best price, for both you and your customers.
That way, your products stay competitive on the marketplace, without sacrificing the profits you make from them. Plus, Amazon fees and related costs are factored in. That way, the money going to your pockets is truly reflected in the calculated margin.
Sales Rules
Want to make your own rules? Be Repricer’s guest. Sales Rules are a great fit if you’re not sweating the competition, or if you just want to avoid letting competitors lead your pricing.
You can use these features to set up different pricing per level of sales velocity. For example, if you’re selling a lot at any given time, Repricer can increase your price at that moment. Then, once the peak passes, it can automatically revert to a lower price. All that ensures you’re set up for higher margins in viral moments.
Take it further by getting specific on how you want to reprice. Choose from either money made or number of orders received—whichever best suits your business. Plus, pause and trigger any and all Sales Rules per your preference, day or night.
Buy Box Optimizer
The Buy Box (or “Featured Offer”) is a coveted battleground year-round, and Prime Day is no exception. Makes sense, since 85% of sales on Amazon come through the Buy Box. Repricer uses its proprietary Chaser algorithm to optimize multiple variables on your Amazon listings, and to give you the best chance at winning the Buy Box. These include:
- Pricing strategy
- Fulfillment method
- Inventory levels
- Competitor analysis
- Product listing quality
…and more.
Repricer offers yet another unfair advantage in Buy Box battles: its Buy Box Optimizer. With this, your product prices automatically increase when you hold the Buy Box, so you get max profit when you’re in the most valuable position on Amazon.
If you’re looking for even more Buy Box best practices, explore insights from Colin Palin, our head of product, in this in-depth webinar:
Price War manager
The Buy Box features above help with the battle, but what about the war? Our Price War Manager automatically detects if competitors start shifting their strategy against you, but you decide when and how you want to compete.
To help you avoid unnecessary price reductions and subsequent battles with eager competitors, Intelligent Repricing detects and stops those price drops before you even need to think about them. That way, you can focus on strategic price changes that maximize long-term gains.
If competitors do happen to be top-of-mind for you, Repricer also lets you keep tabs on your 10 most crucial marketplace rivals. That way, you can get insights into their fulfillment methods and pricing strategies to see how you can outshine them again.
Should you want to compete, you can choose between aggressive and passive repricing strategies. The former helps you win the Buy Box at all costs, while the latter sets you up for steady sales over time. You can also make situational adjustments where you can trigger price changes based on set criteria, including inventory levels and sales velocity.
Real-time profitability analysis
Prime Day can get hectic for sellers. While that’s part of what makes the event so exhilarating, keeping track of all the moving parts of your eCommerce efforts can get tricky.
Repricer monitors key metrics and countless data points to make sure you have constant visibility over performance. With easy-to-read reporting, it also helps you drill down into the numbers that will make the most impact on your bottom line.
Pay attention to these important success indicators this Prime Day to make sure you’re taking all the right actions:
- Product performance – See your lowest-priced products, Buy Box winners and recent repricing activity across your products
- Key repricing insights – Analyze sales growth to take action where it’s more impactful
- Track strategy performance – Quickly identify the most profitable strategies you can double-down on
- Access sales reports – Download the sales, revenue and profit numbers to CSVs and crunch them as you like
- Filter your products – Find high and low performers by sorting by ROI, stock, cost and more
- Find your top best-sellers – Learn from your leading products to get insights on improving those that are behind the curve
And it doesn’t stop there
As one of the most flexible and comprehensive solutions for all your Prime Day needs, Repricer already makes 4.9B changes on Amazon a week, for 1000s of sellers.
Repricer works on all 22 international Amazon marketplaces—with more to come as they’re released. Plus, there are endless ways to customize, tweak and perfect your pricing rules to match your exact needs.
If you’re not already letting our features make smart selling decisions for you, start a free Repricer trial today.
